Court orders BitMEX co-founders to pay fine in connection with CFTC charges

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The CFTC alleged that Arthur Hayes, Benjamin Delo and Samuel Reed were illegally operating BitMEX in the U.S. while conducting a significant portion of the company's business overseas

Hannah Lang, Reuters News

May 6, 2022

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The U.S. District Court for the Southern District of New York ordered the co-founders of cryptocurrency platform BitMEX to pay a combined $30 million fine in connection with a 2020 complaint from the Commodity Futures Trading Commission.

The CFTC alleged that Arthur Hayes, Benjamin Delo and Samuel Reed were illegally operating BitMEX in the U.S. while conducting a significant portion of the company's business overseas.

The CFTC entered into a consent order with BitMEX in August 2021 and fined the firm $100 million.

(Reporting by Hannah Lang in Washington; Editing by Leslie Adler)

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